TMO announced that it will start corn purchases this season with a price of 6 thousand TL per ton.

Turkey's Turkish Grain Board (TMO), which has played an active role in the trade of agricultural products in recent years, announced that they will start corn purchases for 2023. In an official statement on TMO's website, this year's corn purchase price was announced as 6 thousand TRY per ton. Corn purchases will be made from workplaces on August 24 and from licensed warehouses on August 28. According to the statement, TMO will also offer farmers the advantages of licensed warehouses, transportation support and interest-free loans. 

The highlights of TMO statement are as follows:

1. Producers registered in the National Registry of Farmers (ÇKS) will purchase the entire production amount in their documents.
2. TMO will carry out corn purchasing activities in its workplaces located throughout Turkey and in licensed warehouses with signed protocols.
3. The licensed warehousing companies that have signed a protocol with TMO are published on www.tmo.gov.tr and our producers will be able to sell their products delivered to these warehouses to TMO as Electronic Warehouse Receipts (ELÜS).
4. TMO will continue with its appointment-based purchasing system to prevent producers from waiting for a long time in front of their workplaces.
5. Appointments can be made as of 23.08.2023 - 10:00 am. Purchases will start at TMO offices on 24.08.2023 and at licensed warehouses on 28.08.2023, again by appointment.
6. Purchases will be made at TMO offices 6 days a week, except Sundays.
7. Product price payments will be transferred to producers' bank accounts within 30 days following product delivery (TMO and EWR).
8. If producers deliver products to licensed warehouses; 2% withholding tax, 2% SSI premium deduction exemption, 25 TL/ton transportation support (up to 750 TL), 25 TL analysis support per vehicle, warehouse rental fee support, as well as the opportunity to use 9-month term loans with zero (0%) interest up to 75% of the product price from T.R. Ziraat Bank and Agricultural Credit Cooperatives.
9. TMO will cover the stock exchange registration fee for corn purchases from producers.
10. A 1% service fee will be deducted at temporary purchase centers.

In an official statement on TMO's website, it was noted that the corn harvest across the country is still at the 8% level and the corn production is expected to be approximately equal to last year's level with 8.5 million tons. It was stated that the markets have been closely monitored since the beginning of the harvest period and TMO policies have been formulated according to these observations.